RBS reports better than expected third-quarter profit of $1.14 billion

  • The state-owned bank's operating profit beat the 694 million pounds predicted by an average of analysts' estimates compiled by the bank
  • RBS, rescued in a record 45.5 billion pound ($59.8 billion) bailout at the height of the 2008 financial crisis

Royal Bank of Scotland reported a better than expected operating profit for the third quarter of 871 million pounds ($1.14 billion) on Friday, as it kept costs under control and avoided any conduct charges.

The state-owned bank's operating profit beat the 694 million pounds predicted by an average of analysts' estimates compiled by the bank.

RBS, rescued in a record 45.5 billion pound ($59.8 billion) bailout at the height of the 2008 financial crisis, has not made an annual profit since 2007 although it has been in the black every quarter so far in 2017.

Justin Tallis | AFP | Getty Images